43-2A-8. Exception for property owned by corporation for nonfarming purposes--Cement Plant Commission property.

This chapter does not apply to agricultural land owned by a foreign entity, a foreign government, or a foreign person for an immediate or potential nonagricultural use.

A foreign entity, a foreign government, or a foreign person may hold agricultural land in an amount necessary for the conduct of its nonagricultural business operations. Pending the development of agricultural land for a nonagricultural use, the land may not be used for farming, except under lease to a family farm unit, a family farm corporation, or an authorized farm corporation.

A foreign entity, foreign government, or foreign person developing land for nonagricultural use has five years from acquiring interest to initiate a nonagricultural business operation or be deemed in violation of this chapter.

For purposes of this section, the term "nonagricultural business operation" includes the filing of a permit or an application with this state, a political subdivision of this state, a federally recognized Indian tribe, or a federal agency having jurisdiction over the project for permitting purposes.

All real property owned or held by this state by and through the South Dakota State Cement Plant Commission, as of December 28, 2000, is owned or held by it and its successors in title for immediate or potential use for nonfarming purposes and the real property is necessary for nonfarming business operations.

Source: SL 2000 (SS), ch 4, § 1; SL 2024, ch 176, § 11.